Brookfield India Real Estate Trust (BSE:543261) agreed to buy 51% stake in Worldmark Aerocity (Delhi), Worldmark 65 and Airtel Center (Gurugram) and Pavillion Mall (Ludhiana) from Bharti Enterprises Limited for an enterprise value of INR 5 billion on March 31, 2022. Bharti Enterprises will continue to hold a 49% stake in the properties. The properties, Worldmark Aerocity (Delhi), Worldmark 65, Airtel Center (Gurgaon) and Pavillion Mall (Ludhiana), have a total area of 3.3 million square feet.

The transaction will be consummated upon receipt of requisite regulatory approvals. Hardeep Sachdeva, Ravi Bhasin and Shivang Sargoch of AZB & Partners acted as legal advisor to Bharti Enterprises Limited. PricewaterhouseCoopers LLP acted as an accountant and financial due diligence provider to Brookfield India Real Estate Trust.

Aakash Choubey, Deepak Jodhani, and Vinita Choudhary of Khaitan & Co acted as legal advisor to Brookfield Asset Management.